TDS on Partners remuneration

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

23 April 2010 Hi All,

I want to know two things

1.
Whether the new added remuneration ceiling for partners (Rs 300000/-) can be applied to the last financial year ie, 2009-10 (for which we submit the IT this year).

2.
Can the working partners take any amount, other than the remuneration or commission paid under the ceiling section 40(b), which will be treated as expense of the firm authorized or unauthorized by the deed.ie, By simple

if Rs 3 lakh is the total remuneration payable to the working partners according to ceiling of section 40(b). I want to know any other amount, other than this Rs 3 lakh can be paid to working partners as commission or any such, which will be deducted from the total income of the firm after deducting TDS for the same.
Please answer with appropriate section.

I need an experts help.
Please help me!!

Thanks In Advance

CA Ashok Kumar Sahu

CA Ashok Kumar Sahu (Expert)
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23 April 2010 yes, new added remuneration ceiling for partners can be applied for the financial year 2009-10(A.Y -2010-11)

under limit of sec 40(b) include all payments salary,commission etc.